Full Version: Update on Hotel/Equity deal
I have a new loan available (conduit) in the mid 5's for $7.5Million with a mezz piece for another $.5Million. Pay rate on the mezz is 12-13%. Appraisal expected to be at least $10.5, so this is 76% leverage. I need an equity group with at least $1Million to complete the refinance and buyout a minorty interest. I will stay in the deal. To refresh you...this is a flagged, Chicago area limited service hotel with 6 years operating numbers. NOI is $850-900k. No broker...I own this property.
We very interested in discussing the buyout of the minority interest in your group.
Please contact us
Please contact us
QUOTE(netsuke @ Oct 20 2005, 03:41 PM)
I have a new loan available (conduit) in the mid 5's for $7.5Million with a mezz piece for another $.5Million. Pay rate on the mezz is 12-13%. Appraisal expected to be at least $10.5, so this is 76% leverage. I need an equity group with at least $1Million to complete the refinance and buyout a minorty interest. I will stay in the deal. To refresh you...this is a flagged, Chicago area limited service hotel with 6 years operating numbers. NOI is $850-900k. No broker...I own this property.
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